>> BLOOMBERG TECH IS LIVE FROM COAST-TO-COAST WITH CAROLINE HYDE IN NEW YORK AND ED LUDLOW IN SAN FRANCISCO. CAROLINE: THIS IS BLOOMBERG TECH. COMING UP, TECH TRADES LOWER AS AI ANXIETY KICKS OFF THE LAST FULL TRADING WEEK OF THE YEAR.OUR INVESTORS DOUBLING DOWN OR BRACING. WE DISCUSS. PLUS, BIG DEALS AND ADVANCED TALKS TO SPEND BILLIONS ON STARTUPS.A STABLECOIN GIANT ONCE A SOCCER TEAM. WHY TETHER IS BIDDING FOR ITALY'S TEAM. FIRST, A CHECK IN ON THESE MARKETS.MARKETS ARE UP ON THE NASDAQ 100. WE ARE OFF O ...

Why are you doubling down and what is the money being used for. Well, first of all, thanks so much for for having us here. It's a really exciting time for the company we're coming out of this year with a series of research breakthroughs where we've now shown that we can use A.I. to design molecules that we never even thought was going to be possible. So we're really using this money to double down on that research agenda.The models show no signs of of slowing down, and then also really growing the team and ...

H-1B Visa Policy & Legal Challenges - A group of states are suing to block the $100,000 fee increase, arguing it harms their economies [1][2] - States are claiming the fee will worsen labor shortages in sectors like physicians, researchers, teachers, and nurses [2] - The lawsuit argues that the presidential administration cannot unilaterally rewrite immigration law [3] Industry Concerns & Potential Shifts - Companies are grappling with whether to invest in countries where high-skilled workers are more inclined to go [6] - The industry is concerned about companies choosing to offshore operations due to restrictive immigration policies [7] - Other countries, like China and Canada, are responding to US policies by trying to attract global tech talent [7][8] Impact on Innovation & Talent - Restrictive policies may hamper American innovation and the U S companies leading global innovation [4] - China has released policies specifically aimed at attracting international tech workers in response to US policies [8] - The concern is whether talent will be incentivized to choose other countries with more open immigration policies [8] H-1B Visa Usage & Filing - The administration argues the fee is needed because the H-1B visa is being abused [3] - The H-1B filing process has checks and balances to prevent abuse, including demonstrating that the visa will not displace a qualified U S worker [4] - Over 28,000 companies filed at least one first-time H-1B visa petition for employment in fiscal year 2025 [9]

AI Adoption and Productivity - The industry anticipates 2026 as a critical year to demonstrate economic upside and productivity gains from AI investments [1][3] - Currently, approximately 55% of American workers report using AI, but this broad adoption has not yet translated into significant productivity improvements reflected in government, private, and university studies [2] - The industry needs to see meaningful depth of AI adoption to validate underlying economic fundamentals by 2026, potentially reflected in margin improvements for healthcare companies and financial institutions [3] - Earnings releases will be the first place to see the impact of AI, but the industry needs to see them show up in a meaningful way to justify valuations [4] Economic Impact of Investment - Capital expenditure (CapEx) spending has served as a macroeconomic stabilizer, surpassing expectations in 2025, even amidst stagnation in other economic sectors [6] - A significant pullback in CapEx spending could have broad-based economic implications extending beyond the tech sector [7] - Economic growth in 2025 is largely dependent on substantial investment plans from a few major tech companies [5] US-China Technology War - Despite trade uncertainties with China, US businesses have generally continued to perform well [8] - Increased decoupling with China could lead to reduced revenue and R&D, with potentially extensive economic implications [9] - Competition dynamics resulting from decoupling could potentially create a win-win situation for the US [9] Market Valuations and Investment - The market is questioning valuations, yet some companies are rising without fundamental support, such as Tesla potentially reaching a new record high since December 2024 [10] - With the end of a rate cut cycle, cash yields become less attractive, requiring careful monitoring of whether investments are directed towards actual infrastructure or alternative investments [12] - Elevated valuations need to be meaningful, with the proof being in the pudding [13]

Company Overview - ASML started as a 50/50 joint venture between Philips and ASM International in 1984 [1] - ASML is the sole company capable of manufacturing machines for printing the tiniest circuits on advanced chips [2] - ASML's extreme ultraviolet (EUV) lithography machine costs over $300 million, weighs as much as a Boeing 747, and contains over 100,000 parts [3] Technological Advancement - EUV lithography uses ultraviolet light to etch microscopic patterns onto silicon wafers [4] - EUV machines from ASML are essential for manufacturing the most advanced semiconductors [5] - The industry aims to pack more computing power into less space, aligning with Moore's Law [5][6] Industry Position - ASML's early growth was accelerated by companies like Intel, Texas Instruments, and AMD [2] - ASML is at the center of the global chip supply chain, with firms like NVIDIA, AMD, and Micron designing chips [4] - Foundries like TSMC and Samsung rely on ASML's EUV machines for manufacturing advanced semiconductors [5]

What does it mean for a company like Nvidia or AMD that are making these AI accelerators. What does higha mean for them and the kind of AI chips we're going to get into the future. >> Well, it's been they will be able to put more transistor per unit of area the wafer.So more transistor for AI is great, right. Because this is more computing power or more memory. And the second advantage is that this also reduce the energy consumption.So INA will feed MOS low which require more transistor density and less ene ...

AI Investment & Market Perspective - ASML CEO describes artificial intelligence investing as resembling an "arms race" [1] - The CEO sees no bubble in the AI industry [1] - The AI boom is raising questions about whether current spending levels are justified [1] ASML's Role in the AI Supply Chain - ASML is a crucial component in the global AI supply chain [1] - ASML holds a near-monopoly on extreme ultraviolet lithography machines [1] - These machines are essential for manufacturing advanced chips [1]

AI 行业发展现状 - 欧洲目前是美国和中国 AI 技术的消费者，而非生产者和建设者[1] - 欧洲在整体 AI 生态系统中表现薄弱[1] - 欧洲在 AI 竞赛中落后[1] 半导体行业发展现状 - 过去 10 年，欧洲的半导体系统出货量仅占总业务的 1% 或 2%[2] - 欧洲缺乏先进和成熟的半导体制造业[2] - 欧洲对先进芯片的消费不足，因为开发 AI 芯片的公司不在欧洲[2] 行业发展建议 - 欧洲需要创造条件，以吸引整个 AI 生态系统回归[2] - 欧洲要赶上其他国家，面临重大挑战[3]

You have an annual budget essentially to to invest in and lend to and support the technology industry in the United Kingdom. Why are you in San Francisco, then. What brings you here in San Francisco.Well, look, we're here pitching to us VCs, a really great new growth opportunity for them, which is based on three things. Firstly, as you say, the quality of the UK tech industry for the top ten universities globally producing great research with some really excellent entrepreneurs and the ability to scale busi ...

Are you worried. These drip, drip bits of information that maybe the revenue streams on able to be booked tomorrow. It has to be wait it out a little bit more in terms of the returns on investment.No, I think the long term trends are still in place. I actually thought that Broadcom's numbers were quite good and people were just, I think, very nervous at the end of the year, particularly with some bad news we've seen, such as from Oracle. And and I think it's really more just end of year jitters rather than ...